China and Nigeria are building one of Africa’s largest free trade zones in the commercial capital, Lagos. Chinese companies will use the facility to manufacture goods for export throughout Africa. Located on the tip of the Lekki Peninsula in Lagos, the 16,000 hectare free trade zone will develop local manufacturing and reduce Nigeria’s dependence on imported consumer goods.
The construction is on schedule for Chinese shareholders that include the China Railway Construction Corporation and the
e China-Africa Development Fund.
The investment is in accord with the master plan and the projections that has made, the first phase of the zone, that is the 3,000 hectare zone, will probably be close to a $5 billion investment, that is inclusive of the infrastructure we going to put on the ground, the roads, the power plants, the water plants
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Magbegor Ovie
